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House prices on the up

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  • House prices on the up

    According to the Royal Institute of CHartered Surveyors, prices are not only rising, but are expected to continue to do so for the foreseeable fututre.

    The main drivers behind this are much greater demand than supply and low mortgage rates.

    The BBC reports on it here:

    BBC NEWS | Business | House prices 'to keep on rising'
    Independent Mortgage Advisor, expert in residential, buy to let, holiday let, and refinance mortgages

  • #2
    Re: House prices on the up

    There has been a slight improvement in Northern Ireland's housing market, according to the Royal Institute of Chartered Surveyors (RCIS).
    After analysing figures for March, the RICS found that transaction levels have risen marginally.
    However, it also found that NI house prices continue to fall behind the rest of the UK.
    The institute said that prices are expected to remain broadly flat for the foreseeable future.
    Its Northern Ireland spokesman, Tom McCelland, said: "There are unlikely to be any significant changes to local housing market conditions in the near future.
    "The probable course is for market activity to increase slowly from current low levels of activity and for prices to remain broadly flat over the medium-term.
    "However there will be variations and there are risks."

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    • #3
      Re: House prices on the up

      Things definitely starting to pick up now.

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      • #4
        Re: House prices on the up

        Originally posted by TomM123 View Post
        Things definitely starting to pick up now.
        No. Definitely not in Northern Ireland.

        There are many properties being withdrawn by sellers in Essex as they are being offered way below their asking price (where I am moving - I cannot sell my house in Belfast).

        Why are prices being reduced....reduced....and reduced... (for good properties?).


        I have specially registered to say that.... Prices have starting picking up, according to Bankers, Mortagage Advisors, Estate Agents and others with vested interest.

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        • #5
          Re: House prices on the up

          In Edinburgh, I've noticed house prices are definitely on the up.

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          • #6
            Re: House prices on the up

            Checking out Central Scotland - prices are definitely down - £205k property in 2006 now selling for £183,500.

            Here in the Highlands, no real change in price but sluggish as hell market. Prices absolutely need to fall up here, as pricing is ridiculous - though low inventory may be helping in some areas.

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            • #7
              Re: House prices on the up

              I'm of the opinion that house prices are still too high and that prices will come down again.

              We shouldn't look at short term trends. What we should look at is history. If we do, we will see a clear pattern.

              Check out: HousePriceCrash Dot Co Dot UK (sorry, I'm not able to post links yet) and look at the graph. You will notice that the bottom tends to be at roughly the same level as the peak before last. So if the current trend follows history, prices have got some way to come down, before they go up again.

              Another thing to note is that the bigger the crash, the longer the recovery. So we may have a long time to wait to ride this one out.

              Regards,

              Brian
              Want to reduce your home or buy to let insurance? Any UK post code. Guaranteed to undercut your current premium. PM me for a Free Quote.

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              • #8
                Re: House prices on the up

                I think house prices will continue to fall in general. I suspect there might be a distinction between areas in the south east of England where there is always high demand, but moving out from there north and westwards you will experience increasing house price falls imo.
                Northern Ireland Property

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                • #9
                  Re: House prices on the up

                  I still don't think property should be allowed to rise at such a rate, although it has slowed down, it is still almost impossible for first time buyers to get on the property ladder.
                  Danzo

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                  • #10
                    Re: House prices on the up

                    I agree, i feel for the first time buyers, they need alot of cash to move.

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                    • #11
                      Re: House prices on the up

                      I think relief is coming for 1st time buyers house prices are dropping and will drop further as government cuts take hold
                      Designer Bathrooms

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                      • #12
                        Re: House prices on the up

                        What do you think is the biggest impediment for first time buyers, getting a deposit big enough or being able to get a mortgage?
                        Northern Ireland Property

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                        • #13
                          Re: House prices on the up

                          Property prices being too high I think is the biggest problem - they've gone up far in excess of earnings and needs to see a correction.

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                          • #14
                            Re: House prices on the up

                            The intersting thing is, who actually rising prices of selling houses first? by seller or goverment, and why? anyone know?
                            For long distance moving, we offer you relocation services.

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                            • #15
                              Re: House prices on the up

                              Yes house prices are a little to high. At the moment the average first time buyer on a 30K salary can borrow 100K. the average flat where I live is 180K. that's an 80K deposit.

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